Cotton Association reports accelerated procurement progress

20 Nov '06

2 min read

Cotton Association recently issued 'Monthly (October) cotton situation' that stated, China's cotton output this year was expected to further increase as compared with the previous estimate, with better sunshine and heat in most cotton planting areas, which are friendly to cotton picking and repel boll worms.

According to the Association's latest survey, China's cotton production in 2006 would exceed 6.5 million tons, increasing over 14 percent, an all-time high.

With intensified efforts to release funds for cotton procurement, more companies entered the purchasing market, the purchasing progress of the new cotton accelerated. More than half of the estimated total output had already procured by the end of October.

As of October 31, China procured a grand total of 3.31 million tons of new cotton, with 29 percent increase over the same period last year. Among which, Xinjiang region purchased 1.08 million tons, an increase of 8.4 percent over the same month last year.

To strengthen supervision and management of the cotton market, the State Development and Reform Commission, the State Administration for Industry and Commerce, State General Administration of Quality Supervision, Inspection and Quarantine jointly issued the 'Interim Measures for the Administration of cotton processing and marketing qualification' on October 10, stating that cotton procurement was no longer to run with qualification cognizance, and at the same time raised the threshold of market access for cotton processing.

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